Taylor Wimpey Says Trading In Line With Its Guidance

Taylor Wimpey plc (TW), a residential developer in the U.K., on Tuesday said its trading is in line with expectations and the business remains on track to deliver according to the guidance set out in March while releasing 2021 results.

The company attributes the strong performance to the heathy housing market in the U.K. that has seen strong demand, low interest rates as well as good mortgage availability.

Net private sales for the year to April 17, was at 0.96 versus 1 in the equivalent period of 2021. Cancellation rate of 14 percent recorded in the current period was on par with the previous period.

Separately, the company said Jennie Daly would be assuming office on Tuesday as Chief Executive Officer in place of Pete Redfern who would be stepping down as announced earlier.

Shares of Taylor Wimpey closed Monday's trading at 128.05 pounds, down 3.60 pounds or 2.73 percent from the previous close.

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